Unlike mineral interests or utility
properties, the appraisal of personal property requires a visual inspection of
the assets to determine fair market value. Not only does the property
need to be discovered, but the condition and functionality needs to be verified
by seeing it first-hand. Because personal property is movable by
definition (as opposed to real property which is fixed in location), these
inspections must be performed annually to determine January 1 situs and
ownership.

P&A personal property appraisers perform annual inspections of all
applicable personal property within the taxing jurisdictions assigned to
them. Field inspection data is then correlated with renditions and other
asset inventory listing provided by the taxpayer to ascertain fair market value
each year.

The category of personal property covers a diverse set of
industries, from oilfield-related equipment (gathering lines, drilling rigs,
compressors, pump stations, machine tools, etc.) to vehicles, microwave towers
and office furniture and fixtures. P&A personal property appraisers
are correspondingly flexible and carry diverse backgrounds necessary for the
appraisal of such a wide range of property. Some of the factors to
consider are: